What should I choose as my payroll year?

The second step in the Easy Setup Assistant asks you to select your Current Payroll Year. To answer this question, ask yourself what year it will be when you next complete payment summaries. For example, if it’s July 2008 now, then it will be June 2009 by the time you next complete payment summaries. Therefore, your current payroll year will be 2009.

Incidentally, it doesn’t matter when your financial year begins or ends; in Australia, payroll years always start July 1 and end June 30. It’s fine to have financial years and payroll years that start and finish at different times.

The contents from this page are taken from the MYOB Payroll eBook series, by Veechi Curtis, available online for only $9.95 each.

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